New Casino in Missouri Now up to Voters
Missouri voters will soon decide on a proposal that could reshape the state's casino landscape. Known as Amendment 5, the initiative seeks to amend the Missouri state constitution to expand the number of casino licenses from 13 to 14.
A rendering of a new tourist attraction for Lake of the Ozarks, Missouri. (Source: Facebook/OasisAtLakeport.com)
LISTEN TO THIS ARTICLE:This measure, if passed, would pave the way for a new casino near the Bagnell Dam on the Osage River at the popular Lake of the Ozarks. The proposal is being spearheaded by Bally's Corporation and the Osage River Gaming and Convention Committee (OGCC), marking a significant step forward in the state's gaming industry.
Related: Missouri Starts New Push for Legalized Sports Betting and SlotsCurrently, Missouri law only permits casinos along two major rivers—the Missouri and Mississippi rivers. The new proposal under Amendment 5 would change that by allowing a casino to be built near a man-made water body, such as the Osage River, which is part of the Lake of the Ozarks area.
The Lake of the Ozarks is a man-made reservoir created by the construction of the Bagnell Dam by the US Army Corps of Engineers in the late 1920s. This shift in regulation could have a major impact on the state's gambling infrastructure, especially given the popularity of the Lake of the Ozarks region as a tourist destination.
Amendment 5 is one of two gambling-related initiatives on the Missouri ballot this November. In addition to the casino expansion measure, there is another initiative that would allow statewide retail and mobile sports betting.
This proposal is backed by some of the largest wagering companies in the US, including DraftKings and FanDuel, which have pushed hard for the expansion of sports betting in the state. However, the proposal has faced strong opposition from Missouri's existing casinos, particularly Caesars Entertainment, which has contributed $4 million to an opposition campaign in an effort to block the measure.
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Rewriting the Casino Landscape
One of the key aspects of Amendment 5 involves altering the restrictions on casino proximity to water bodies. Under current regulations, casinos must be within 1,000 feet of a riverbank. The new amendment would adjust this rule, allowing casinos to be located near artificial water bodies, as long as they are within 500 feet of the 100-year base flood elevation, as defined by the Federal Emergency Management Agency (FEMA). This would include bodies of water like the Lake of the Ozarks, opening up new areas for potential casino development beyond the Missouri and Mississippi rivers.
Another significant provision in the amendment relates to how the generated gaming tax revenue would be used. The proposed new casino on the Osage River is expected to generate approximately $14.4 million in tax revenue annually.
According to the language of the amendment, these funds would be earmarked for elementary education and literacy programs in the state, providing a potential boost to Missouri's public education system. This aspect of the proposal may help attract voter support, as education funding remains a critical issue in many communities across the state.
Amendment 5 would also override a previous cap on the number of casino licenses in Missouri, which was set in 2008. The passage of this amendment would increase the total number of licensed casinos to 14, allowing for new developments in areas that have been previously restricted under state law.
Proponents of the initiative argue that it would boost tourism and economic activity in the Lake of the Ozarks area while providing additional revenue for the state. However, it remains to be seen how Missouri voters will respond to the proposal when they head to the polls in November.
To pass, the initiative needs a simple majority of votes. If voters approve Amendment 5, Missouri would see its first new casino license in over a decade, bringing further expansion to the state's gambling industry.
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